NCLT Dismisses Symphony's Appeal for Register Rectification
NCLT dismisses Symphony's appeal for register rectification related to fraudulent share transfers by Sharepro. Symphony will appeal the order. No material impact expected.
The company states that there is no material impact on the financial or operational activities of the company.
The announcement reports the dismissal of an appeal, which is a setback, but the company is planning to appeal. SEBI had no objection to the rectification, suggesting a neutral outlook.
* The National Company Law Tribunal (NCLT) has dismissed an appeal submitted by Symphony Limited regarding the rectification of the register of members. * The appeal was related to the fraudulent transfer of shares by the former Registrar and Share Transfer Agent (RTA), Sharepro Services (India) Private Limited (Sharepro). * In 2015-16, Symphony received complaints about fraudulent transfers and took steps, including discontinuing the RTA and appointing a new one. * Symphony filed an FIR in March 2016 against Sharepro, which is pending before the Hon’ble Magistrate Court in Ahmedabad, along with a recovery suit. * In 2023, the company filed an appeal to NCLT seeking rectification of Register of Members, and restoring the said original shareholders. * The NCLT, Ahmedabad bench, included SEBI as a party, and SEBI stated it had no objection to the rectification. * NCLT dismissed the appeal on 4th December 2025 and referred the matter to ROC/EoW. * Symphony is examining the order and will take appropriate steps, including filing an appeal. The company believes there is no material impact on the financial or operational activities of the company.
What to do with a filing like this
Symphony Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Symphony Limited. Read the original for the full detail.